Genting Testing Major Multiple Resistance Zone

Since 4th March 2010 green channel support rebound price has been rising and is now testing a major multiple resistance zone comprising of the following barriers :-

1. Red neckline resistance of the complex head and shoulders pattern

2. Dual upper resistance band of the green channel

3. Blue 200 EMA resistance

4. Brown 200 SMA resistance

5. Green resistance belt

A major breakout here will retest the pink resistance region followed by probable key resistances at 1.10, 1.15, 1.20, 1.25 and finally a challenge of peak resistance band at 1.30 to 1.32

However if the breakout of the major multiple resistance zone fails expect a pullback towards the lower dual support boundaries of the green channel.

SMB Rebounds from Ichimoku Kumo Cloud Support

The two doji candlestick pair halted price decline near the triple intersections of red, green and blue channel supports. The stochastics has crossover and is just beginning to move out of the oversold region. RSI and MACD are also exhibiting favourable signals. The upward price move will probably test the resistance of blue channel around 34.5 and if bullish buying interest continues a surge into the upper dual resistance band of the green channel will probably retest 36 peak formed on 22nd Feb 2010.

Immediate support is the Ichimoku kumo cloud followed by the red channel support. The dual support band of the green channel and the blue channel support are the next support zone. Support failure at 30 will probably retest the 28 to 27.5 gap support .

Yanlord Hovering In the Clouds

Clouds hovering as Bulls and Bears await a major push to determine the next swing direction. A breakdown of immediate resistance at 1.94 will probably retest the red channel support followed by the light blue support zone, Further weakness will plummet price to the lower dual support of the green channel and lower support of the dark blue channel. A breakdown here may see support at 1.75 to 1.70 region.

Conversely, an upward move above the Ichimoku Kumo Clouds will need to clear the upper dual resistance of the green channel followed by the pink resistance area. A successful breakout will see challenges at the colored bands as upward surge continues.

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Z-Obee Potential Ascending Triangle Sloping Support Rebound

Rebound from sloping support of red potential ascending triangle. Advance was halted by the lavender resistance zone and the upper dual resistance band of the blue channel. Further climb must surmount both these 2 barriers and punch through both the orange and green territories. A breakout above the red horizontal resistance confirms the ascending triangle pattern.

Immediate support zone 36 to 35 and next support is the light blue support area. A retest of the pink support region will most probably negate the ascending triangle formation although technically there is a possibility of an even larger triangle. A breakdown below the pink support will confirm the double top formed by the peaks on 25th Jan 2010 and 1st Mar 2010.

Yanlord Meets Ichimoku Kumo Storm Clouds

A breakout above the Ichimoku Kumo storm clouds will most probably propel price towards the pink resistance zone. If bull power continues then expect resistances at the colored zones. However if lightning strikes a decline back down to the light blue support zone will prevail. Further weakness will retest lower boundary of blue channel.

Z-Obee Doji Testing Sloping Support of Potential Ascending Triangle

Doji testing red ascending triangle support and light blue support zone. A successful rebound to confirm the ascending triangle pattern will need to clear the following resistances

1. Immediate resistance formed by the intersection of the upper boundary of the blue channel and the lower boundary of the green channel

2. Resistance zone at 35.5 to 36

3. Lavender resistance area

4. Orange resistance region

5. Green resistance territory

6. Horizontal resistance of red potential ascending triangle . A breakout above this resistance confirms the triangle formation and will probably see an attempt to climb higher.

Conversely, if the flushing of the weak contra traders is not support by strong buying interest expect retests of the following supports

1. Immediate sloping triangle support

2. Light blue support zone

3. Pink support belt

4. Ichomoku kumo support cloud

5. Lower boundary of blue channel